Press Release

iCo Therapeutics to Present at BioContact

September 29, 2005

Vancouver, Canada – iCo Therapeutics Inc. announced today that Andrew Rae, iCo’s Chief Executive Officer, will present at the BioContact Quebec Biopharmaceutical Partnership Symposium to be held October 5-7th, 2005 in Quebec City, Quebec. More than 150 companies from across North America, Asia and Europe are expected to participate in the symposium.

The presentation will take place on October 5th, 2005 at 2:30pm EST at the Chateau Frontenac in Quebec City and will include details regarding the recently announced acquisition of a second-generation antisense compound by iCo for the treatment of ophthalmic diseases and the appointment of Dr. Santa Jeremy Ono, a leading authority in the fields of immunology and ophthalmology, as Chief Scientific Officer.

iCo seeks out and develops or modifies approved or near-approved therapies to treat a variety of conditions within isolated biological environments. Because the drugs have already been through extensive preclinical and clinical testing, and in some cases regulatory approval, development risk and time to commercialization is significantly decreased.

About iCo Therapeutics, Inc.

iCo Therapeutics Inc. is an emerging, Vancouver-based biotechnology company focused on developing pre-existing drugs for a range of new conditions affecting isolated biological environments – areas such as the eye, spinal cord, or joints – where locally-administered application of these therapies would have minimal systemic distribution and fewer safety issues.

For more information, visit the company website at: https://icotherapeutics.com.

Business Development Contact:
Dr. John Clement, CTO
604.602.9414

Finance/Investor Contact:
Mr. John Meekison, CFO
604.602.9414